Pacira BioSciences signed an agreement to acquire Flexion Therapeutics, according to an Oct. 11 news release.
Flexion develops local non-opioid therapies for patients with musculoskeletal conditions, postsurgical pain and lower back pain. Its lead product, Zilretta for osteoarthritic knee pain was approved by the FDA in 2017.
Pacira will acquire the company for $8.50 per share in cash, plus one non-tradeable contingent value right worth up to $8 per share in cash. The transaction is expected to close in the fourth quarter of 2021.